The $74 billion New York State & Local Retirement Systems, Albany, allocated an additional $50 million to Progress Investment Management's pooled fund, bringing the total to $116 million.
Funding came from cash flow. In turn, Progress, a manager of managers, allocated $19 million each to Tanaka Capital Management and Fortaleza Asset Management for midcap growth portfolios. The remaining $12 million will be split among the four existing managers in Progress's pooled fund: Paradigm Asset, Brown Capital, New Amsterdam Partners and Valenzuela Capital Management.
